I am selling my home in Pentyrch and the EA has just telephoned to advise that the purchasers are swapping conveyancer. The reason given is that the lender will only work with solicitors on their conveyancing panel. On what basis would a leading lender only deal with certain solicitors rather the firm that they want to select for their conveyancing in Pentyrch ?
Lenders have always had panels of law firms that can represent them, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders justify this action to a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
I own a freehold property in Pentyrch but still invoiced for rent, why is this and what is this?
It’s unusual for properties in Pentyrch and has limited impact for conveyancing in Pentyrch but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for hundreds of years, but the Rent Charge Act 1977 barred the creation of fresh rentcharges from 1977 onwards.
Previous rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 will be dispensed with completely.
My grandfather passed away last year and as sole heir and executor I was left the house in Pentyrch. The house had a small mortgage remaining of approximately £5k. I want to transfer the title deeds into my name whilst I re-mortgage to Kent Reliance, pay off the mortgage. Is this possible?
Where you intend to refinance then Kent Reliance will insist on your using a conveyancer on the Kent Reliance conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Kent Reliance conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Kent Reliance mortgage is registered as a charge at the Land Registry.
I am expecting a OIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Pentyrch solicitors on the Leeds Building Society conveyancing panel, or is it better to go independently?
You will need to appoint Pentyrch solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
I have paid off my mortgage with RBS. I assume I don't need a Pentyrch property lawyer on the RBS panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your RBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the RBS mortgage from the register. RBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where RBS has sent the Land Registry the discharge electronically, and
- RBS has instructed the Land Registry to do so
The formalities of my purchase has taken place for my property in Pentyrch. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
What is different about your site and alternative internet conveyancing brokers when it comes to conveyancing in Pentyrch?
At this site get a fixed fee costs illustration from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Pentyrch. As opposed to estate agents and many comparison sites we do not have referral arrangements with solicitors. A large number of agents and online brokers 'recommend' the firm that pays the highest kickback, rather than the best value conveyancing in Pentyrch
I am looking for a conveyancing practitioner in Pentyrch for my sale. Can I check a firm’s complaints history with the profession’s regulator?
Members of the public may see published Solicitor Regulator Association (SRA) determinations resulting from investigations from 2008 onwards. Go to Check a solicitor's record. For information Pre 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, call +44 (0)121 329 6800. The regulator could monitor telephone calls for training requirements.